Ooma, Inc. (NYSE:OOMA) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Ooma, Inc. (NYSE:OOMA) by 33.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,995 shares of the technology company’s stock after purchasing an additional 6,732 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of Ooma worth $268,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OOMA. Trigran Investments Inc. grew its stake in Ooma by 9.9% in the fourth quarter. Trigran Investments Inc. now owns 4,036,263 shares of the technology company’s stock valued at $43,309,000 after purchasing an additional 364,908 shares in the last quarter. Wellington Management Group LLP raised its position in Ooma by 5.1% during the fourth quarter. Wellington Management Group LLP now owns 1,246,310 shares of the technology company’s stock valued at $13,373,000 after acquiring an additional 60,500 shares in the last quarter. BNP Paribas Financial Markets grew its position in Ooma by 31.8% in the first quarter. BNP Paribas Financial Markets now owns 56,196 shares of the technology company’s stock worth $479,000 after acquiring an additional 13,543 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Ooma by 37.4% in the 1st quarter. Russell Investments Group Ltd. now owns 579,342 shares of the technology company’s stock valued at $4,942,000 after purchasing an additional 157,569 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Ooma in the first quarter worth $130,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OOMA has been the subject of a number of analyst reports. Lake Street Capital began coverage on Ooma in a research report on Monday, June 17th. They issued a “buy” rating and a $14.00 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Ooma currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Ooma Stock Performance

OOMA opened at $10.36 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $9.45 and its two-hundred day moving average price is $8.73. The firm has a market capitalization of $273.50 million, a P/E ratio of -103.60 and a beta of 0.92. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $14.40.

About Ooma

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.